Onkyo & Pioneer Selling Sales Unit to European Distributor in $164 Million Deal
Onkyo & Pioneer is selling assets for the Pioneer, Onkyo, Integra, Teac and Esoteric brands in Europe to accessories distributor Aqipa in a deal valued at $164 million, it said Tuesday. The agreement, effective Oct. 1, includes sales, marketing, after-sales…
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service, customer care, finance, spare parts and distribution. Susumu Shiotsuka, president, Pioneer & Onkyo Europe, said the sale will allow the company to focus on development, production and brand-building. The sale has “zero impact on Onkyo USA,” which CEO Jason Sausto bought in September, a company spokesman emailed us.